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Public Hearing - RE: Commissioner Keigher - EDC - To Approve a Gaston County Level One Incentive Grant Pursuant To N.C.Gen.Stat. §158-7.1 and To Authorize Gaston County to Enter Into an Economic Development Agreement (EDA) with Project Beach
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion
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STAFF CONTACT
Alisha Summey - Economic Development Commission - 704-425-4086
BUDGET IMPACT
budget
Local Investment Grant will be used as a match and no additional funds will be obligated by the County.
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BACKGROUND
Project BEACH is considering a total investment of $3,000,000 to upfit an existing facility in Gaston County. It is anticipated that the Company’s capital investment in and at the Property and its operations thereat will generate significant ad valorem tax, sales tax and other revenues to the County and will qualify for a Level One Incentive Grant. The County will prepare a detailed Economic Development Agreement (EDA) between Project Beach, the municipality in which the facility is located, and the County, to induce the company to provide good job opportunities and capital investment which will enhance the County’s ability to attract additional business and industry.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution